(Reuters) - Bill Ackman's Pershing Square Capital Management cut its stake in mall owner General Growth Properties Inc
The fund was the second biggest shareholder in the company after Brookfield Asset Management Inc, which had reported a stake of about 39 percent as of August 8.
Ackman has been a passive investor in GGP after he failed to secure a buyer for the company.
Pershing Square has been largely flat for the year, following a bruising August in which it lost 3.6 percent.
The sharp decline was largely driven by big bets on J.C. Penney Co Inc
Ackman sold his entire stake in J.C. Penney to Citigroup Inc
(Reporting By Neha Dimri in Bangalore; Editing by Sriraj Kalluvila)
(c) Copyright Thomson Reuters 2013. Check for restrictions at: http://about.reuters.com/fulllegal.asp